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Outrage over Zuma's order to Gordhan, Jonas

By: News24Wire      Updated 2 hours 40 minutes ago President Jacob Zuma's instruction to Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas to immediately return home from an investor roadshow in the UK and US has raised eyebrows among the opposition and civil society. "The instruction to cancel the international investor roadshow... 

Outrage over Zuma's order to Gordhan, Jonas
Finance Minister Pravin Gordhan

Patel says construction fund will be ‘open to public scrutiny’

By: Terence Creamer     Updated 5 hours ago Economic Development Minister Ebrahim Patel has pledged that all transactions pursued under the R1.5-billion Tirisano Fund – which is to be capitalised by the seven the construction companies that recently signed up to the Voluntary Rebuilding Programme (VRP) – will be “be open to public... 

Patel says construction fund will be ‘open to public scrutiny’
Photo by Duane Daws
Economic Development Minister Ebrahim Patel

Grayston bridge inquiry may be postponed to July 2018

By: Megan van Wyngaardt     Updated 3 hours ago The Department of Labour’s (DoL) inquiry into the collapse of the Grayston drive pedestrian bridge, on Gauteng’s M1 highway – which resulted in the death of two people and the injury of a further 19 –  may be postponed to July, 2018. The presiding inspector Lennie Samuel said that he would make a... 

New public procurement legislation to take effect this week

By: Natasha Odendaal     Updated 6 hours ago With the revised legislation governing public procurement processes coming into effect this week, stakeholders are expecting the impact of the radical economic transformation within public procurement processes to become clear in due course. Government repealed and replaced its Preferential... 

Tribunal finds pipe manufacturers guilty of collusion

By: Megan van Wyngaardt     27th March 2017 The Competition Tribunal has found Dawn Consolidated Holdings (DCH), through its subsidiary DPI Plastics, and Sangio Pipes guilty of colluding to divide markets in South Africa between 2007 and 2012. The Competition Commission referred the collusion case against the two manufacturers of regular... 

SAA losses climb to R4.5bn

By: African News Agency      Updated 1 hour 49 minutes ago The losses of the already cash-strapped South African Airways (SAA) has rapidly increased to R4.5-billion, documents submitted to Parliament’s standing committee on Finance revealed. “This new figure of R4.5-billion is significantly higher than the R3.5-billion revealed ten days ago and the... 

DTI optimistic about R4bn titanium beneficiation project in Richards Bay IDZ

By: African News Agency      27th March 2017 The launch of a new R4-billion titanium beneficiation project for manufacturing titanium pigment at the Richards Bay Industrial Development Zone (IDZ) next month is a significant and commendable milestone in South Africa’s mineral beneficiation and industrialisation paths, Trade and Industry... 

Solidarity gears up for 'Save our Steel' campaign

By: Natasha Odendaal     Updated 2 hours 50 minutes ago Trade union Solidarity has set March 30 as the launch date for a job-saving campaign to conceive and implement purposeful plans to help “save” certain industries that are struggling to remain viable. “This campaign will focus specifically on the steel, manufacturing and engineering industries to... 

AVK grows local manufacturing footprint with Gunric acquisition

By: Creamer Media Reporter      Updated 6 hours ago Valves and related solutions manufacturer AVK Holding Southern Africa has bolstered its manufacturing footprint and product offering after acquiring a 100% interest in Gunric Valves, including all brand assets and intellectual property (IP) for an undisclosed amount. The deal would provide AVK... 

Sappi appoints CellMark as lignin sales agent

By: Anine Kilian     Updated 3 hours ago Paper and pulp producer Sappi’s Biotech division has appointed testing laboratories company CellMark as nonexclusive sales agent for the Hansa lignin products produced in liquid and powder formats at Sappi’s Tugela mill, in South Africa. Sappi is the world’s largest producer of lignosulphonates... 

Khobab Wind Farm lifts first turbine

By: Anine Kilian     Updated 3 hours ago Khobab Wind Farm has completed the lifting of the first of its 61 wind turbine generators ahead of schedule,. It is anticipated that the first power will be exported in the next three to four months and that the wind farm will start supplying electricity from all 61 turbines to the national grid... 

New British High Commissioner to South Africa to assume role in April

By: Natasha Odendaal     Updated 5 hours ago Commander of the Order of St Michael and St George (CMG) and member of the Royal Victorian Order (RVO) Nigel Casey has been appointed British High Commissioner to South Africa, effective April. He is succeeding Dame CMG and Lieutenant of the RVO Judith Macgregor, who will be retiring from the... 

Huge appoints new CFO

By: Creamer Media Reporter      Updated 3 hours ago JSE-listed investment holding company Huge Group on Monday announced the appointment of Zunaid Bulbulia as CFO, effective immediately. Bulbulia, who has been a nonexecutive director at Huge since January 2016, shortly after his exit as group chief operations executive at MTN, is succeeding group... 

Joffe bows out as Bidcorp executive to list new firm

By: Reuters     Updated 6 hours ago South Africa's Brian Joffe will step down as executive chairperson of foodservice group Bidcorp at the end of June to launch his own investment firm, Bidcorp said on Monday. Bidcorp was spun out of Bidvest in a $5-billion listing, South Africa's largest in 2016, on the JSE in May last year. 

EIB backs last-mile power connectivity in Kenya

By: Terence Creamer     Updated 6 hours ago The European Investment Bank (EIB) has signed a €60-million loan agreement with Kenya to support an ongoing project designed to connecg 300 000 Kenyan households to the national electricity grid. The loan for Kenya Power’s ‘Last Mile Connectivity’ project forms part of a “blended” €180-million... 

EIB backs last-mile power connectivity in Kenya

Stellenbosch University and CubeSpace to launch nanosatellite

By: News24Wire      Updated 7 hours ago Stellenbosch University and CubeSpace are expected to launch a nanosatellite to the International Space Station (ISS) on Tuesday. The nanosatellite will be launched from the US on Monday, or Tuesday. 

Erin Energy enters farm-out agreement over two oil blocks in The Gambia

By: Megan van Wyngaardt     Updated 3 hours ago Dual-listed Erin Energy Corporation has entered into a definitive farm-out agreement with ASX-listed oil and gas company FAR, which will acquire an 80% interest and operatorship of Erin’s offshore A2 and A5 blocks in The Gambia. Erin Energy will retain a 20% working interest in both blocks. 

Gordhan flying back to SA tonight – Treasury

By: News24Wire      Updated 3 hours ago Finance Minister Pravin Gordhan will comply with President Jacob Zuma’s order and return to South Africa on Monday evening. That is according to Treasury spokesperson Yolisa Tyantsi, who told Fin24 on Monday that arrangements were being made to fly him back to South Africa later on Monday evening. 

Gordhan flying back to SA tonight – Treasury
Photo by Duane Daws
Finance Minister Pravin Gordhan

Zuma orders Gordhan home from UK talks with investors

By: African News Agency      Updated 5 hours ago President Jacob Zuma on Monday ordered Finance Minister Pravin Gordhan and Deputy Finance Minister Mcebisi Jonas to abandon talks with foreign investors in the UK and US and return home, prompting the rand to fall amid fears of a Cabinet reshuffle. “President Jacob Zuma has instructed the... 

Zuma orders Gordhan home from UK talks with investors
Photo by Reuters
Finance Minister Pravin Gordhan and Deputy Mcebisi Jonas

Zuma recalls Gordhan from international roadshow, rand falls

By: Reuters     Updated 7 hours ago President Jacob Zuma ordered Finance Minister Pravin Gordhan to return from an investor roadshow to Britain and the US on Monday because he "did not give permission for the trip", a government source said. Appointed in late 2015 after a predecessor's sudden sacking, Gordhan was in London for the... 

Zuma recalls Gordhan from international roadshow, rand falls
Photo by Duane Daws
Finance Minister Pravin Gordhan

DA to ask public protector to investigate Eskom acting CEO’s R1bn deals to stepdaughter

By: African News Agency      27th March 2017 The Democratic Alliance will ask Public Protector Busisiwe Mkhwebane to launch an investigation into Eskom acting CEO Matshela Koko for allegedly awarding tenders worth R1-billion to Impulse International, a company of which his stepdaughter is a director, the party said on Sunday. “Impulse... 

DA to ask public protector to investigate Eskom acting CEO’s R1bn deals to stepdaughter
Photo by Duane Daws
Eskom acting CEO Matshela Koko

South32 to return additional $500m to shareholders

By: Martin Creamer     27th March 2017 Diversified mining company South32 on Monday announced that it intends to return an additional $500-million to shareholders, equating to 4.5% of the group’s current market capitalisation. The Sydney-, London- and Johannesburg-listed company said in a media release that this dividend-complementing... 

South32 to return additional $500m to shareholders
South32 CEO Graham Kerr

TNPA undertakes R15m maintenance dredging campaign at Cape Town port

By: Creamer Media Reporter      24th March 2017 The dredging services division of Transnet National Ports Authority (TNPA) has implemented a R15-million maintenance dredging campaign at the Port of Cape Town to restore the design depths inside the Duncan dock. The maintenance campaign, which was started two weeks ago and is scheduled for... 

TNPA undertakes R15m maintenance dredging campaign at Cape Town port
Isandlwana

South Africa's maize output seen rising 84% in 2017 

By: Reuters     24th March 2017 South African farmers are expected to harvest 84% more maize this season compared with last season as yields were boosted by increased rains, a Reuters survey of five traders and market analysts showed on Friday. The government's Crop Estimates Committee (CEC), which will provide its second... 

South Africa's maize output seen rising 84% in 2017

Economic transformation imperative for South Africa – Davies

By: Anine Kilian     24th March 2017 Trade and Industry Minister Dr Rob Davies on Friday highlighted what needed to be done to pursue radical economic transformation as an imperative for the advancement of more inclusive economic growth in South Africa. He said fundamental change was necessary in the structure, systems, institutions... 

South Africa has real bio-energy potential

By: Keith Campbell     24th March 2017 "South Africa definitely has exploitable bio-energy potential," stated Council for Scientific and Industrial Research principal engineer Crescent Mushwana at the launch of the South Africa Bio-energy Atlas in Pretoria on Friday. "Bio-energy is feasible from organic waste, residues from forestry... 

BBBEE Commission committed to resolving noncompliance

By: Anine Kilian     24th March 2017 The Broad-Based Black Economic Empowerment (BBBEE) Commission, a member of the Department of Trade and Industry, has spent the past year assessing compliance problems and has resolved to investigate companies that are involved with fronting and noncompliance with the BBBEE legislation. The... 

Transnet offers voluntary severance packages to staff

By: Megan van Wyngaardt     24th March 2017 Transnet on Friday confirmed that it is offering voluntary severance packages (VSPs) to its management and bargaining unit employees to streamline its business and ensure the group’s long-term sustainability. The parastatal cited subdued global economic growth, including a weak economic outlook... 

Transnet offers voluntary severance packages to staff

Competition Commission extends fresh produce market agent raid to Cape Town, Durban 

By: Megan van Wyngaardt     24th March 2017 The Competition Commission on Friday extended its search and seizure operation targeting fresh produce market agents, to premises in Cape Town and Durban. This followed its raid, on Thursday, of the premises of nine fresh produce market agents suspected of involvement in alleged cartel and... 

Cape Town park earmarked for housing, work development 

By: Megan van Wyngaardt     24th March 2017 Plans are under way to develop 120 ha of the 240 ha Two Rivers Urban Park (TRUP), in Cape Town, into a mixed-use development to provide previously disadvantaged and lower-income families access to the central business district. The TRUP, located near the confluence of the city’s Liesbeek and... 

Gordhan on getting South Africa’s growth, transformation dynamic right 

By: Terence Creamer     24th March 2017 Finance Minister Pravin Gordhan has again responded to questions about whether his ‘inclusive growth’ narrative is at odds with the ‘radical economic transformation’ vision being espoused by President Jacob Zuma. Addressing businesspeople at a function hosted by Deloitte in Johannesburg on... 

Gordhan on getting South Africa’s growth, transformation dynamic right
Photo by Duane Daws
Finance Minister Pravin Gordhan

New Bio-energy Atlas will help government implement NDP – Pandor

By: Keith Campbell     24th March 2017 The South Africa Bio-Energy Atlas, launched on Friday, will help the government develop and implement its policies. This was pointed out by Science and Technology Minister Naledi Pandor in her keynote address at the launch ceremony. She highlighted that policies could not be made without data.... 

Atterbury to open new Ghana mall in April

By: Megan van Wyngaardt     24th March 2017 South African property development company Atterbury will open its fourth retail development in Ghana, the $95-million Kumasi City mall on April 20. The 18 500 m2 modern mall, with potential for a future 10 000 m2 expansion, will give the city of Kumasi its first one-stop building with shopping... 

Atterbury to open new Ghana mall in April

Denel heads to court to dispel doubts over legality of Denel Asia JV

By: Natasha Odendaal     24th March 2017 Denel has taken to the High Court of South Africa in Gauteng to clear up doubts over the legal standing of Denel Asia, a joint venture (JV) with VR Laser Asia. The State-owned defence group on Friday applied to the High Court in Pretoria for an order declaring that it obtained approval to form... 

Denel heads to court to dispel doubts over legality of Denel Asia JV
Photo by Duane Daws
Denel acting CEO Zwelakhe Ntshepe

South African Bio-energy Atlas launched to support bio-energy development

By: Keith Campbell     24th March 2017 The South Africa Bio-energy Atlas, launched in Pretoria on Friday, will allow the country to identify opportunities for sustainable bio-energy and be able to achieve much more in terms of developing a 'green' economy. This was affirmed by Science and Technology Minister Naledi Pandor in her... 

South African in the Mars mix as race to the Red Planet heats up

By: Dylan Slater     24th March 2017 It is 2031 and the next space race has started with the launch of the largest-ever interplanetary space rocket and spaceship carrying four carefully selected astronauts on a mission to establish a human settlement on Mars – a planet that is about 225-million kilometres away. Heading for the... 

South African in the Mars mix as race to the Red Planet heats up

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      24th March 2017 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers an Engineering News Online app for iPhone and Android users.  These apps... 

Engineering News iPhone and Android Apps available for free download

Solar energy may get boost from Africa’s biggest oil exporter

By: Bloomberg     24th March 2017 Nigeria, Africa’s biggest oil exporter, may be about to turn sunward to generate more of its power. Senators in the capital of Abuja are debating an allocation of $30-million to solar projects in this year’s Budget, according to the Renewable Energy Association of Nigeria (REAN). They are... 

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